The Punjab University’s Student Advancement Endowment Fund will get a Rs20 million boost thanks to interest from Rs4 billion investments made by the university, said PU Vice Chancellor Prof Mujahid Kamran on Saturday.

He was addressing a workshop on student endowment organised by the PU Faculty of Education, the Higher Education Commission and the Promotion of Education in Pakistan Inc, New York.

Prof Kamran said that the student endowment fund was already financing students with Rs 70 million. He said that the administration was working on the revival of Punjab University’s alumni association, which would also help support the programme.

PEP Foundation President Dr Khalid Iqbal said the PEP had already set up endowment funds at PU, Government College University Lahore, GCU Faisalabad, the University of Engineering and Technology and Beaconhouse National University. He suggested that beneficiaries of these funds sign an agreement to return twice the amount they had received within 10 years of gainful employment, which would help finance future scholarships.